Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[cygan]

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[OutOfMemory]

Congrats WO For Reaching 31000 Page

Thanks infofront

I am new to this forum. But this is the biggest wo thread I've ever seen. I don't think any wo thread can go before this wo thread. Because any updated news on Bitcoin actually comes here first. This wo thread everyone is my senior. So everyone will forgive if wrong.

Welcome  

https://bitcointalk.org/index.php?topic=85687.0

There's only one true Wall Observer thread 

[ChartBuddy]

Explanation

[ImThour]

Saylor buys again, price might dump.

[empowering]

https://twitter.com/saylor/status/1542117682207678465?s=20&t=EWnsZiUX3TAWSLG0mBF2jw

[Torque]

https://twitter.com/saylor/status/1542117682207678465?s=20&t=EWnsZiUX3TAWSLG0mBF2jw

Fkn L E G E N D going beast mode

[cAPSLOCK]

Much obliged... my new setup thanks to you!

Looks nice! I should provide you a new version of the first (left screen) photo, which is somewhat poorly color corrected, compared to the second one (right screen).
EDIT: Aaaw, shit. The other way round. The right screen was the first shot 
Mumbles to self: Not a good start into the day, OOM...

EDIT2: That Berhringer WING completely went by unnoticed. I like.

Yeah.. was telling a fren about my history of the studio a few weeks back under the influence of a little too much rum (don't worry everyone I am back on the wagon now).  I always wanted to like Behringer because I love cheap things lol... but they have always made garbage.  But they made a lot of money selling clever copies of other peoples designs that did not last very long over the years, bought up a lot of really good other audio companies and transformed.  The single handedly brought the price of medium<->large format analog consoles to it's knees introducing the X32 series.

But you are on the only one who has overlooked the Wing.  (I know you just mean you didn't see it in the pic... but the gear has been a real sleeper product, I think.) They should be very proud.  This is an absolute magnus opus from them, in my opinion.  It is the most fun piece of audio gear I have owned, even if not one with any sort of pedigree.  Yet it too happened at a time that live sound (and us performing musicians) was crushed by the Covid world...  Anyway...

I am a sucker for various space pictures as backgrounds... and I like the contrast between these two... but if you do the color correction I will replace!

Also... now I am going to see if I can hook my daughters telescope up to my little Nikon.  Would a paper towel cardboard cylinder gaff tape and some aluminum foil work?

[empowering]

[ChartBuddy]

Explanation

[cAPSLOCK]

BTC/USDT Liquidation Chart

On the right are the shorts, and on the left are the longs.
Exchanges move prices to f*ck these retailers.


https://thekingfisher.io/

A LOT of money has been made swinging the price up and down and stopping out those leveraged positions.

It's a catch 22 really.  Bitcoin is a worldwide unregulated wild wild west market and people can do whatever the *^&(% the want.  I know Saylor (and others) want the regulation to come stop that from happening as much but it really never can entirely.  No one can control the asset.  There will always be markets who do unregulated things in Bitcoin (and crypto (sorry JJG)).

I think we HAVE to go down some more... but that chart is encouraging a little because the money to be made playing this reliable game means the price want's to be made to go up.  We COULD have bottommed as many people say... but usually bitcoin bottoms are more violent than this one has seemed to have been.

We will see.

Completely unrelated.  I cannot ever see the word "Kingfisher" without being transported back to India.  Many years ago, I was hired to play with a group performing in Andra Pradesh because their drummer had fallen ill.  I was a last minute replacement.  It was one of the funnest couple weeks of my life.  And I will never forget playing on a stage in front of (I think) around 20,000 people.  No big deal in India really...  but for me?  I felt like a rock star.  Well we had to travel a little... and the Indian regional budget airline at the time was called "Kingfisher" after the bird as well, (but really after the beer) and when you boarded one of those planes this video would play on a screen with the EXTREMELY swanky CEO with a hot girl on each arm saying "Welcome! Thank you for flying  KING-FISH-AHHH".  

For some odd reason I will never get that guys voice out of my head... lol.  Your chart made me hear it again, and then I had to tell this story.

[Gachapin]

[cAPSLOCK]

OK.  In the wake of Crypto Twatters recent hysterical seizures...

-Bitcoin DOES NOT CARE about:
--Nic Carter
--Michael Saylor
--ANY OTHER "influencer" or personality.
-Bitcoin does not care if you own alt coins.
-Bitcoin does not care what country you are in.
-Bitcoin does not care what language you speak.
-So it does not care if you call it a "store of value", or "digital gold" or a "ponzi scheme". It doesn't even know what those are.
-Bitcoin does not care if you call it a medium of exchange or not.  Or if you use it as one.
-It does not care if you like lightning, or hate it.

I could go on for pages... but you can too.

I will say I have ALWAYS found the childish gatekeeping purity test shit to be EXTREMELY ANNOYING.  Yes... we have a rule here.  This thread is about Bitcoin.  Most of us here are fairly to one side of the "maxi" continuum.

I do not really care that much about Nic Carter.  He is obviously a brilliant mind, and someone who has made a shit ton of money investing in things... calls himself a "VC" now.  Almost certainly has some Patagonia gear.

Bitcoin does not care.  And *I* care even less.

If I start hearing the hoards of Bitcoiners wailing about "slaying your heros" etc... well I suppose I should stay away from twitter for a while.  It will annoy me especially while other people who essentially do the same thing as Nic wag their fingers at him.  Samson, for example.  Someone who launched an ERC20 token.  But likes to masquerade as  a Maxi. 

I don't care about that either (and I am certain Bitcoin doesn't! )

I think part of this is I have just been on this earth long enough to see how childish all this is... The Bitcoin "community" really needs to grow up.

And it will...  In time.  And at the same time there will always be fools (like me) wailing about whatever hurt their feelings.

And Bitcoin does not care. 

Oh look!  Block 742858 is going to show up any second!  Or should I say, any 10 minute?

[Biodom]

3AC has entered liquidation, apparently.
https://www.reuters.com/technology/crypto-hedge-fund-three-arrows-capital-has-entered-liquidation-source-says-2022-06-29/
Considering this, we are doing better than expected (so far).

[ChartBuddy]

Explanation

[death_wish]

https://twitter.com/saylor/status/1542117682207678465?s=20&t=EWnsZiUX3TAWSLG0mBF2jw

Damn it, Saylor.  You greedy guts, grabbing up and hogging a limited resource.  Leave some coins for the rest of us, will ya?

I talk so much about Bitcoin, I’ve got to get me some more of them bitcoins.

[Torque]

OK.  In the wake of Crypto Twatters recent hysterical seizures...

-Bitcoin DOES NOT CARE about:
--Nic Carter
--Michael Saylor
--ANY OTHER "influencer" or personality.
-Bitcoin does not care if you own alt coins.
-Bitcoin does not care what country you are in.
-Bitcoin does not care what language you speak.
-So it does not care if you call it a "store of value", or "digital gold" or a "ponzi scheme". It doesn't even know what those are.
-Bitcoin does not care if you call it a medium of exchange or not.  Or if you use it as one.
-It does not care if you like lightning, or hate it.

I could go on for pages... but you can too.

I will say I have ALWAYS found the childish gatekeeping purity test shit to be EXTREMELY ANNOYING.  Yes... we have a rule here.  This thread is about Bitcoin.  Most of us here are fairly to one side of the "maxi" continuum.

I do not really care that much about Nic Carter.  He is obviously a brilliant mind, and someone who has made a shit ton of money investing in things... calls himself a "VC" now.  Almost certainly has some Patagonia gear.

Bitcoin does not care.  And *I* care even less.

If I start hearing the hoards of Bitcoiners wailing about "slaying your heros" etc... well I suppose I should stay away from twitter for a while.  It will annoy me especially while other people who essentially do the same thing as Nic wag their fingers at him.  Samson, for example.  Someone who launched an ERC20 token.  But likes to masquerade as  a Maxi.  

I don't care about that either (and I am certain Bitcoin doesn't! )

I think part of this is I have just been on this earth long enough to see how childish all this is... The Bitcoin "community" really needs to grow up.

And it will...  In time.  And at the same time there will always be fools (like me) wailing about whatever hurt their feelings.

And Bitcoin does not care.  

Oh look!  Block 742858 is going to show up any second!  Or should I say, any 10 minute?

An asset that's worth its salt can have "influencers", hodlers, diamond hands, paper hands, supporters, detractors, haters, etc. at any point throughout a thousand years (or in the case of PMs, many thousands). They will come and go, live and die.

Do you think that asset cares what the fk any of them think or do? Holding an asset is neither a flex, a fashion show, nor a popularity contest.

Bitcoin will outlive us all.

^{(And now I feel like an idiot personifying an inanimate digital network)}

[Richy_T]

There's only one true Wall Observer thread  

That's the original. There were some concerns once the page count got high that the software might not cope too well (might have been from me based on lies told by a different forum's owners using the same software) so Adam closed it and opened this one. This one has been trundling along just fine with about 30x the pages.

[dragonvslinux]

Almost every little 'bobblehead' on youtube/twitter/tradingview keeps blabbering about 10K-14K bottom.
To me it says that it won't be THAT.
My preference (and it looks like the WO on average) is that the bottom was "already", but the whole cycle is messed up so much that it is difficult to be certain.

So true. I'd be neutral right now about a return to $25K-$30K vs a drop to $10K-$15K, but there is too much confidence that price is going to already drop significantly lower. Baring in mind since 2021 approximately 50% of holders were new to Bitcoin in the past year, so a lot of the twitter sentiment comes from newbies to put it simply. That fact that by comparison WO readers think the bottom is in is no surprise to me.

Also, I don't think the 200-Week MA is "dead". Not yet anyway. Just visit the link, or see the attached screenshot. It has been crossed, but only barely, which has happened a few times in the past. If the price picks up from here, it will just be another deep blue dot touching the 200-WMA on the chart. It all depends on where the price goes next. And even if a deep and long dip eventually "kills" it, it doesn't mean much, really. MA indicators do not contain some high-level intelligence that can tell us something very useful when breached. They are just averages of price data.

JMHO.

I forgot this graph only shows the dots each month, as opposed to each week. If anything it'd make more sense to look at the 50 Month MA (~217 Weeks) if we're looking at monthly changes. Also because Bitcoin has never closed below this Monthly MA, as opposed to 200WMA which price has closed below numerous times (repeatedly in 2015 for example). Personally I'm keeping my eye on the 50 Month MA @ $21.3K as price has already flirted with this level a few times in the past week. I also don't think a close below it would be catastrophic, as long as it's within around 5% of it, ie >$20K. Only one more day to go though...

[ChartBuddy]

Explanation

[death_wish]

There's only one true Wall Observer thread  

That's the original. There were some concerns once the page count got high that the software might not cope too well (might have been from me based on lies told by a different forum's owners using the same software) so Adam closed it and opened this one. This one has been trundling along just fine with about 30x the pages.

I wouldn’t call it “just fine”.  A few years ago, posting in WO became quite slow and unreliable.  It was a forum-wide problem, but much worse in WO:  Mildly noticeable elsewhere if you paid close attention, whereas WO became almost unusable sometimes.  I heard that theymos then changed something with the database setup; I don’t know what, but the problem seemed to go away.

Recently, I have sometimes had slowness, timeouts, and even Cloudflare errors of inability to connect to the backend when trying to post in WO.  The problem is sporadic, and I can’t seem to reproduce it in any way useful for troubleshooting; but it is ugly when it rears up.  Sometimes, wrestling with it has resulted in double-posts where I had to delete the duplicate post after everything finally showed up.

I notice that ChartBuddy missed some recent updates.  Is the problem on Buddy’s end?  Or did Buddy experience a timeout as I sometimes have, with the inferior robot^* being too dumb to retry? ¯\_(ツ)_/¯

^* This statement is intentionally ambiguous.  I neither admit nor deny the allegation that I am a robot.  I do habitually refuse to click the “I’m not a robot” box like a trained animal.  Robots are too smart to fall into that inverse Kafkatrap of being forced to deny their roboticness.  WTF do does Google think I am, a piece of meat?